The two components of this program are designed to either reduce or freeze the Real Estate Tax Liability for qualified elderly and/or disabled homeowners. Based on annual income for the previous year and assets as of the end of the previous year a percentage of abatement from 10% to 100% is determined by the income scale set by city council and the tax bill is reduced by that amount. If qualified, a citizen's real estate taxes can be frozen at the prior year's amount. While still responsible for the payment of real estate taxes, the amount the homeowner pays will be frozen at the prior year’s amount, regardless of any increase in assessment or tax rate. All changes are effective July 1.
To be eligible for the reduced tax component of this program, a household must have no more than $30,000 gross annual income and financial resources of no more than $75,000 (excluding the value of the residence being occupied and up to one acre)
For the freeze component, income is between $30,001-$50,000 and financial resources between $75,001 - $175,000.
A new application must be filed each year. Applications are accepted January 1 through April 30 (excluding holidays and weekends). Forms are available from the Commissioner of Revenue and City Treasurer, City Hall 801 Crawford Parkway and all public library branches. The application must be notarized and copies of all ends of the year statements for income and assets must be provided.